47GY Morocco 32s

RNS No 3809d
GRIQUALAND WEST DIAMOND MINING COMPANY DUTOITSPAN MINE LIMITED
2 August 1999


GRIQUALAND WEST DIAMOND MINING COMPANY DUTOITSPAN MINE LIMITED
(Incorporated in the Republic of South Africa)
(Company Registration No. 11/00013/06)
INTERIM REPORT FOR THE HALF-YEAR ENDED 30 JUNE 1999
--------------------------------------------------------------
INCOME STATEMENT
For the half-year ended 30 June 1999
Abridged and unaudited
                                    Half-year           Year
                                       June              Dec
                                  1999       1998       1998
                                    R          R          R
Amount received from holding
company in terms of working 
agreement                        42 280     42 280     84 560
Dividend and interest income      3 110      2 368      5 695
                                 45 390     44 648     90 255
Deduct:
Expenses                            600        600      3 600
Net income before taxation       44 790     44 048     86 655
Deduct:
Taxation                         16 058     18 020     35 608
Attributable earnings            28 732     26 028     51 047
Number of shares in issue       105 700    105 700    105 700
Earnings per share                 27,2c      24,6c      48,3c
Dividends per share
Interim                            20,5c      20,5c      20,5c
Final                                -          -        21,0c
                                   20,5c      20,5c      41,5c
Dividends payable               R21 669    R21 669    R43 865
--------------------------------------------------------------

BALANCE SHEET
30 June 1999
Abridged and unaudited
                                     Half-year          Year
                                        June             Dec
                                  1999       1998       1998
                                    R          R          R
Capital employed
Share capital
105 700 shares of R20 each    2 114 000  2 114 000  2 114 000
Distributable reserves           29 429     19 544     22 366
                              2 143 429  2 133 544  2 136 366
Represented by
Fixed assets                  2 111 722  2 111 722  2 111 722
Listed investment in holding
company                           2 448      2 448      2 448
Net current assets               29 259     19 374     22 196
Current assets                   80 513     70 642     73 832
Amount due by holding company    69 364     58 921     62 463
Cash                             11 149     11 721     11 369
Current liabilities              51 254     51 268     51 636
Shareholders for unpaid and
unclaimed dividends              38 145     38 707     38 893
Creditors                         9 732      9 326      9 382
Tax                               3 377      3 235      3 361
                              2 143 429  2 133 544  2 136 366
Market value of listed
investment                        7 650      6 135      5 661
--------------------------------------------------------------

The Company holds the right to mine the Dutoitspan diamond mine which it
leases to De Beers Consolidated Mines Limited, in terms of an agreement dated
30 August 1889, for an annual consideration of R84 560 and it is anticipated
that the results for the second half of the year will be approximately the
same as for the first half.

For and on behalf of the board
N.F. OPPENHEIMER
G.M. RALFE
Directors
2 August 1999

Registered Office
36 Stockdale Street, Kimberley 8301, South Africa
Secretaries and South African Share Transfer Secretaries
De Beers Consolidated Mines Limited
36 Stockdale Street, Kimberley 8301, South Africa
(P.O. Box 616, Kimberley 8300)
Telephone: (053) 839-4111
Facsimile: (053) 839-4210/4230

London Secretary
J.C. Greensmith
17 Charterhouse Street, London EC1N 6RA, England
Telephone: (0171) 404-4444
Facsimile: (0171) 405-7020

United Kingdom Registrar
Computershare Services PLC
P.O. Box 82, Caxton House, Redcliffe Way, 
Bristol BS99 7NH, England
Telephone: (0117) 930-6666
Facsimile: (0117) 930-6509
--------------------------------------------------------------

END

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